Who Rules America: Wealth, Income, and Power
This article by William H. Domhoff was updated in 2013 using date from 2010 and earlier. It is 32 pages, and in my opinion, well worth the effort to read. Is Domhoff a liberal? at least, but the facts often have a leftward tilt.
Who Rules America: Wealth, Income, and Power
I find the data on "net financial worth" interesting, This is wealth that is not tied up in a home, and other life necessities. In 2010 the wealthiest 1% owned 42% of this wealth
Percent of population Percent of financial worth Percent of net worth.
Top 1% 42% 35%
Next 4 30 28
Next 5 13 14
Next 10 11 12
Bottom 80 5 11
Notice that this table is NOT divided into quintiles, The top quintile is in the first four columns; the bottom four quintiles is in the one bottom column. The vast majority of Americans have no idea how wealth or income are distributed; they believe that the distribution is far more equal than it actually. And since 2010 it has become even more unequal.
Who Rules America: Wealth, Income, and Power
I find the data on "net financial worth" interesting, This is wealth that is not tied up in a home, and other life necessities. In 2010 the wealthiest 1% owned 42% of this wealth
Percent of population Percent of financial worth Percent of net worth.
Top 1% 42% 35%
Next 4 30 28
Next 5 13 14
Next 10 11 12
Bottom 80 5 11
Notice that this table is NOT divided into quintiles, The top quintile is in the first four columns; the bottom four quintiles is in the one bottom column. The vast majority of Americans have no idea how wealth or income are distributed; they believe that the distribution is far more equal than it actually. And since 2010 it has become even more unequal.